Legal & General Group Plc purchased a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,468,517 shares of the utilities provider's stock, valued at approximately $494,352,000. Legal & General Group Plc owned 1.21% of Consolidated Edison as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock worth $4,532,572,000 after purchasing an additional 461,108 shares during the period. BlackRock Inc. acquired a new stake in Consolidated Edison in the 2nd quarter valued at $4,609,491,000. State Street Corp grew its position in Consolidated Edison by 3.6% in the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider's stock valued at $2,473,608,000 after purchasing an additional 854,868 shares during the period. Lazard Asset Management LLC grew its position in Consolidated Edison by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock valued at $800,843,000 after purchasing an additional 910,244 shares during the period. Finally, Deutsche Bank AG bought a new stake in Consolidated Edison during the 2nd quarter valued at $749,184,000. Institutional investors own 66.29% of the company's stock.
Consolidated Edison Price Performance
Shares of NYSE:ED opened at $107.15 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock has a market cap of $39.63 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.27. The stock's fifty day simple moving average is $109.94 and its two-hundred day simple moving average is $109.91. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.
Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the prior year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison's dividend payout ratio is presently 58.29%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ED shares. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research note on Monday, July 27th. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Barclays lowered their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, Argus set a $112.00 price target on Consolidated Edison in a research note on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $108.93.
Check Out Our Latest Analysis on Consolidated Edison
Consolidated Edison Company Profile
(
Free Report)
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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